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ENCAVIS AG, DE0006095003

ENCAVIS AG, DE0006095003

04.10.2021 - 07:09:42

ENCAVIS AG converts hybrid convertible bonds issued in 2017 and 2019

Corporate News

ENCAVIS converts hybrid convertible bonds issued in 2017 and 2019Hamburg, October 4, 2021 - The SDAX-listed Hamburg based wind and solar park operator Encavis AG (ISIN: DE0006095003, Prime Standard, timber symbol: ECV) converts the perpetual subordinated bonds (ISIN DE000A19NPE8), issued through its wholly owned subsidiary Encavis Finance B.V., via early mandatory conversion today as already announced in August.

Encavis creates the the required 12,606,481 shares from the Conditional Capital 2017 and 2018 and from the Authorised Capital 2021 to convert the still outstanding Bonds in an aggregate principal amount of EUR 89.3 million, initially issued on September 13, 2017 as well as on September 5, 2019.

The current 12.6 million new shares to be issued as a result of the early mandatory conversion of the bonds will not only increase the total number of outstanding shares to 160.469.179 shares (currently 147.9 million shares), they will also increase the free float proportion of Encavis shares tradable on the stock exchange by the same amount. The free float would thus increase from the current 72.8% to 74.9%. Ranking and index membership within the DAX family of Deutsche B?rse AG are calculated on the basis of the free float market capitalisation.

The accounting effect of the conversion is a pure liability swap within equity from equity attributable to hybrid capital investors to capital reserves in equity. Equity, equity ratio and balance sheet total remain unchanged.

The medium-term target of increasing EPS to EUR 0.70 in 2025e, in line with the >> Fast Forward 2025 growth strategy, already includes the conversion of the bonds and is calculated on the correspondingly increased number of shares. Likewise, the analysts' valuations and their target prices for the Encavis share are already based on the correspondingly increased number of approximately 160.5 million shares.

About ENCAVIS: Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from renewable energies listed on the MDAX of Deutsche B?rse AG. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates solar parks and (onshore) wind farms in ten European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group's total generation capacity currently adds up to more than 2.8 gigawatts (GW), which corresponds to a total saving of 1.26 million tonnes of CO2 per year. Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors.

Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with "AA" and ISS ESG with their "Prime" label.

Additional information can be found on www.encavis.comContact:Encavis AG J?rg Peters Head of Corporate Communications & IR Tel.: + 49 (0)40 37 85 62 242 E-Mail: joerg.peters@encavis.com

http://www.encavis.com Twitter: https://twitter.com/encavis

04.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: ENCAVIS AG Gro?e Elbstra?e 59 22767 Hamburg

Germany Phone: +49 4037 85 62 -0 Fax: +49 4037 85 62 -129 E-mail: info@encavis.com Internet: https://www.encavis.com ISIN: DE0006095003 WKN: 609500 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1237839 ? End of News DGAP News Service


@ dgap.de